Open Innovation

More and more firms are opening up their approach to innovation. Leading firms already have a clear view on where they want to be open and where they deliberately choose a closed innovation model . Working with the leading OI firms one finds that typically open approaches to innovation are within a 6 to 24 months time-slice, depending on whether ...

Point: Open innovation is much more cost-effective than internal R&D Story: Larry Huston, formerly Innovation Officer at Procter & Gamble, spoke at the World Innovation Forum on June 8, 2011. Huston praised open innovation as a way for big companies to speed their innovation and time to market. Huston said that open innovation efforts give companies a 2x return compared ...

Deploying Open Innovation Inside the Enterprise by Klaus-Peter Speidel and Michael Bonner The brightest ideas often come from unexpected sources. This is why Open Innovation (OI) works. When companies go outside their own R&D departments to tap the knowledge of thousands of independent inventors, university researchers and other knowledge holders, good things happen: OI helps organizations overcome group-think, encourages lateral ...

It happens. Open innovation initiatives fail to deliver on the expected outcome. There is not much of a surprise in this, but I am curious on the reasons and I have thus started to make a list on why this happens. It would be great if you can help build this list by adding your comments to my starters. Companies ...

The International Association for Contract and Commercial Management (IACCM) is a successful organization of professionals involved with large contracts, procurement and outsourcing. If you want to know about anything to do with this area, they are the “go to” people, and are very ably led by Tim Cummins. I was delighted when Tim asked me to present at their EMEA ...

As readers of this blog know, I am always interested in exploring different forms of open innovation, collaboration, and outsourcing. Personally, I have used a number of sites including 99designs.com and elance.com. I have used these for the development of logos, graphics, websites, and research. In most cases I would pay several hundred dollars for the work. An interesting trend ...

In the excitement to begin open innovation efforts, it is possible to overlook important groundwork that should be done that will help assure that things go smoothly over time. This includes reaching agreement on goals and defining the desired outcome so that everyone is confident that the relationship will produce a win/win that is acceptable to both parties. It also ...

A lot has been written about Intellectual Property (IP) and Open Innovation. It’s not surprising, because it’s one of the thorniest problems facing collaborators. In a recent blog I talked about the importance of having a flexible approach to IP policy, ensuring that you can deliver the deal that is most appropriate to the partner and opportunity under consideration. Now ...

It can be difficult for smaller companies to find the time and proper methods to help their employees gain skills and experience on open innovation. Here are five suggestions on what they can do to build a stronger open innovation muscle. Other suggestions are highly appreciated. 1. Corporate Wildcards Many larger corporations invite smaller companies into what we can call ...

Here are three fundamental questions that must be answered before embarking on a journey toward open innovation: 1. What will open innovation do to your business model? In an open innovation world, you may end up working with anyone — even competitors. How will this impact your business model and alter your competitive landscape? This is perhaps less a concern ...